Mercury, a Durango-based payment processing company, has filed papers with the federal Securities and Exchange Commission as a step in offering shares of the company to the public.
Mercury on Friday filed an S-1 registration statement with the commission for a proposed initial public offering of its Class A common stock. The “proposed maximum aggregate offering price” on the form is $100 million.
The number of shares being offered to the general public, along with the price range of the offering, have not yet been determined, according to a news release distributed Friday by GlobeNewswire.
Brian Baker of the Brunswick Group, the media contact for Mercury, could not provide more information about the offering when contacted Friday afternoon. Baker said the Securities and Exchange Commission has strict guidelines about confidentiality during the process.
The S-1 registration statement can be found on the SEC website through a search of the company. The aggregate offering price is defined as the total offering of equity securities to the public.
J.P. Morgan Securities LLC, Barclays Capital Inc. and Morgan Stanley & Co. LLC will be managing the offerings once they become available, the news release said.
Mercury in December filed a confidential draft registration statement with the SEC, which allowed Mercury to undergo a private review ahead of the public SEC filing.
Mercury Payment Systems was founded by Marc and Jeffrey Katz in 2001. In April 2010, Mercury sold about 60 percent of the company to Silver Lake, a private-equity firm based in Menlo Park, Calif. Silver Lake has a long track record of taking technology companies public.
Initial public offerings, or IPOs, allow companies to sell stock to the public on exchanges such as the New York Stock Exchange or Nasdaq. And typically, they accomplish two aims: raising money for the company’s future growth and providing an opportunity for owners to cash out.
Mercury is a provider of payment technology and services to various businesses in the United States and Canada.
Additionally, it has provided several local businesses with point-of-sale software application technology. As of December, Mercury had 650 employees, including 377 in Durango.
Rocky Mountain Chocolate Factory is currently the only Durango-based public company.
vguthrie@durangoherald.com
